I read The Long Tail: Why the Future of Business is Selling Less of More by Chris Anderson. The general theme was about how its completely different nowadays with how you need to sell to the public due to technology advances in the past couple decades. It now makes more sense to sell a lot of products to reach many specific, niche markets instead of trying to come up with one big hit that everyone will want. The author, Chris Anderson, also talks about how easy it is now for anyone to produce and sell products because of how easy it is to access the internet and technology. For example, music software and websites to share it on are easily accessible to the public today, you don’t need a big recording studio to show off your musical talent. The long tail is related to supply and demand. It is all of the niche products that are out there that aren’t bought by a huge market, but because there are so many of them, they make up a long tail of thousands of items.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
The book connects with our class because it gives a lot of tips and insights into people starting a business. It tells about the best ways to make more sales, which is by having a variety of products that will reach many markets, not just one. It makes you think about how much business and selling has changed in the past few decades. There used to be such limited options in products and ways to buy, but with all the technology we have now there are infinite ways. It is important to know this information if you are wanting to become an entrepreneur, or at least learn about it, which is what this class is all about.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
I would ask students to look up how things were sold in the 60s and 70s and compare it to today. Compare the business models and see what a difference technology has made on how businesses need to approach selling and who they should sell to.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
I think the overall concept of how beneficial it is to have a lot of products and options for customers, because the more niche products you have, the more audiences you will reach. Having only one or a few products is like putting all your eggs in one basket and hoping that you reach the one target audience you want to reach before your competitor does.
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ReplyDeleteHi Madi!
ReplyDeleteI liked what you said about how it is a good idea to have multiple products. I do think often people put to much focus on one product that they end up neglecting some other every important groups of customers. I also agree with you that it absolutely connects with our class.Learning about how to find what customers want and giving it to them is something we have definitely worked on in class.
I can tell you are very detailed oriented by your writing style and articulate word choice. I do appreciate you drive in this class and effort towards making your company come to life.
ReplyDeleteHey Madi, I enjoyed reading your post because I have not read this book and wasn't really planning to but after reading what you wrote, I may read it for our next assignment! I agree with the author writing about how easy it is to produce and sell products these days due to all of our technological advances, and technology will only keep advancing in the future. I really like your assignment idea because I think it would be beneficial to see how much things have changed from just a few decades ago.
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